Congewai is a sparsely populated locality in New South Wales within the Cessnock local government area (postcode 2325). With a population of 206, the suburb has a more retirement-aged population with a median age of 56. Households earn a median income of $88K per year, with an average household size of 2.3 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +2.9% year-on-year at the LGA level. NSW employment has moved +0.3% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. NSW also had 37 Commonwealth-backed major projects under construction, 5 underway, and 75 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are managers, technicians & trades, professionals. Employment in the area leans toward agriculture and construction. The top ancestries reported are Australian, English, Irish.
Congewai has a median house price of $1.8 million, which has surged by 84.6% year-on-year. The current median weekly rent is $580. This gives a gross rental yield of approximately 1.7%. The median monthly mortgage repayment is $1,733.
Congewai is served by 1 school, including 1 primary. The average ICSEA score is 888, which is well below the national average of 1,000. Public transport access includes 1 bus stop. The crime rate in the Cessnock LGA is moderate at 4,890 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 1.7% (low yield). Property prices are near the state median ($1.8M/$1.5M). The price-to-income ratio of 20.5x is considered stretched. House prices have moved +84.6% year-on-year. Population growth of +2.9% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.